Being the sixth largest cryptocurrency with a market capitalization of over $120.5 billion, $SOL has demonstrated a 16% increase in trading volume to $9 billion, as well as a 16% decrease in open interest to $4.41 billion, reflecting increased trading activity as traders adjust their positions. $BTC $PEPE

Despite a 10.99% drop over the past week, opportunities for further growth remain. DeFiLlama reports a sharp decline in the total value of Solana from $11 billion to $7.93 billion. This is a 10% drop in just one day, reflecting growing bearish pressure and investor concerns.

Several bright spots confirm the bullish outlook for Solana; these include the recent meme boom in the company's ecosystem, with a total market volume exceeding $20 billion. Notable examples include BONK, FARTCOIN, and ai16z, as well as Solana's significant role in decentralized public infrastructure through platforms like Helium and Hivemapper.

Increased efforts to approve Solana ETF have intensified #2024To2025 #2025Outlook #2024Crypto #2024withBinance